3D Energi Limited (the 锟紺ompany锟�; ASX:TDO) is pleased to provide the following update on drilling operations
at the Charlemont-1 gas exploration/appraisal well within VIC/P79 exploration permit, offshore Otway Basin,
Victoria (Figure 1).
Highlights
锟� Probable gas presence in the Waarre C, B and Waarre A sandstones
锟� Elevated gas readings and log resistivity are consistent with hydrocarbon presence
锟� Charlemont-1 has reached total depth shallower to prognosis, approximately 70m into the
Waarre A, after higher than anticipated formation pressures required a cessation of
drilling.
锟� Scenarios for further wireline logging operations are being evaluated
Charlemont-1 is targeting the Charlemont B Prospect (refer to Figure 2) and is located approximately 55km
offshore from Port Campbell, in water depths of approximately 110m.
Charlemont B is the penultimate prospect at one end of a prospect chain, with the La Bella gas discovery at
the other, approximately 7km to the east (refer to Figures 2-4). All intervening prospects 锟� including
Charlemont B 锟� share similar geophysical response as La Bella. Accordingly, Charlemont-1 has the potential
to appraise the intervening prospects towards La Bella.
Operations Status
The Charlemont-1 well was spud at 7:15pm AEDT on 10 December 2025 by the Transocean Equinox.
As reported on 2 January 2026, a 7锟� liner was successfully installed in the Charlemont-1 well after drilling was
paused on entry to the Waarre C at 2552 metres MDRT1,2
, following higher-than-anticipated formation
pressures in conjunction with significant gas shows.
Drilling into the Waarre C reservoir re-commenced on the evening of 2 January 2026. Elevated gas readings
were recorded across the Waarre C sandstones(refer to Tables 1 and 2), and coincide with elevated resistivity
readings on wireline, consistent with probable hydrocarbon presence in the Waarre C sandstones. Further
wireline logging is required to fully evaluate the nature and extent of the hydrocarbons.
As drilling proceeded, elevated gas readings were recorded across Waarre B sandstone intervals from 2664
metres MDKB into the Waarre A primary target at 2683 metres MDRT1,2
, and continued through the Waarre
A to 2753 metres MDKB (refer to Tables 1 and 2). Elevated gas readings in the Waarre B and Waarre A
sandstones coincide with elevated resistivity on the LWD tool and is consistent with probable hydrocarbon
presence in both the Waarre B and Waarre A sandstones.
At 2753m MDKB, the well intersected a zone with higher-than-anticipated formation pressures, reaching
operational tolerances. Accordingly, drilling operations have been concluded prior to the planned Total
Depth of 2862 metres MDKB and scenarios for further wireline logging operations are being evaluated.
Wireline logging is required to fully evaluate the nature and extent of any hydrocarbons in the Waarre B and
Waarre A, and to determine any potential connectivity with the Waarre C.
Further updates will be provided through key operational milestones.
Executive Chairman锟絪 Comments
Noel Newell, Executive Chairman of 3D Energi said 锟絎e are incredibly excited by early indications consistent
with gas presence in multiple Waarre reservoirs. Wireline logging will be critical in assessing the quality and
extent of these indications, and the Company remains optimistic as it continues to plan to progress to the
evaluation phase.
The identification of probable hydrocarbons in the Waarre C is significant, as hydrocarbons were not
anticipated in this zone prior to drilling. This outcome may have further positive implications for up-dip
prospects along the Charlemont Trend, particularly those not currently supported by existing Direct
Hydrocarbon Indicators (DHIs) on seismic. We will be evaluating this closely at the conclusion of the drilling
program.
The presence of gas across stacked Waarre sandstone reservoirs de-risks the up-dip prospects with DHIs in
the Charlemont Trend, culminating with the La Bella discovery. If successfully appraised, this cluster could be
among the largest gas pools in the Otway Basin锟�.
Equity interest
3D Energi Limited 20%
ConocoPhillips Australia (Operator) 51%
Korea National Oil Company 29%
This announcement is authorised for release by the Board of Directors of 3D Energi Limited